Rite Aid Reaches Bankruptcy Settlement with Lenders, DOJ, McKesson

Pharmacy chain Rite Aid (RADCQ.PK) has reached a settlement with its lenders, the U.S. Department of Justice, and drug supplier McKesson Corp (MCK.N) clearing a path for Rite Aid to complete its bankruptcy case by late April, a company lawyer said Tuesday. “We have reached an agreement on all key points with all key economic stakeholders,” Rite Aid attorney Aparna Yenamandra said at a bankruptcy court hearing in Trenton, New Jersey. The deal is not opposed by creditors who have sued Rite Aid over its sale of opioid medications, Yenamandra said. Before it filed for bankruptcy, Rite Aid faced over 1,600 lawsuits alleging that pharmacy chain ignored red flags and illegally filled prescriptions for addictive opioid medication.

Read the full article: Rite Aid Reaches Bankruptcy Settlement with Lenders, DOJ, McKesson //

Source: https://www.reuters.com/business/retail-consumer/rite-aid-reaches-bankruptcy-settlement-with-lenders-doj-mckesson-2024-03-26/

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